• Phone: +1-631-791-1145
  • Email: sales@imarcgroup.com

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Payroll Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

The global payroll outsourcing market grew at a CAGR of around 6% during 2014-2019. Payroll outsourcing refers to the usage of third-party sources and organizations to manage administrative and compliance operations. It involves maintaining employee records, calculating salaries and wages, computing and adding bonuses, generating payroll-related reports, and complying with taxation laws applicable in different countries. It also assists organizations in saving costs and time, and reducing the need for in-house trained payroll staff, and purchasing and maintaining appropriate software packages. Besides this, it provides organizations dealing internationally with the advantage of staying updated with foreign tax legislation and avoiding any potential penalties.

Due to the expanding geographical reach of organizations, there is a rise in the demand for time-saving and cost-effective measures, such as payroll outsourcing, that allow the management to focus on core issues and run the business smoothly. Moreover, the incorporation of digitized services, such as business analytics, big data and the cloud, is escalating the demand for payroll outsourcing across the globe. Furthermore, the rising trend of multi-country payroll outsourcing (MCPO), bundling payroll services and process automation is further contributing to the market growth. Apart from this, the leading players are providing hybrid payroll solutions that enable companies to decide upon customized payroll sub-services as per the requirement to avoid compromising confidential data. Additionally, on account of the spread of the coronavirus disease (COVID-19) and the consequent shift toward remote work by a number of organizations, market players are offering different ways to manage payroll operations online. Looking forward, IMARC Group expects the global payroll outsourcing market to continue its moderate growth during the next five years.

Breakup by Type:

  • Full-Managed Outsourcing
  • Co-Managed Outsourcing
     

Breakup by Application:

  • Small Business
  • Medium Business
  • Large Business
     

Breakup by End Use Industry:

  • BFSI
  • Consumer and Industrial Products
  • IT and Telecommunication
  • Professional Services
  • Public Sector
  • Healthcare
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa


Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Accenture Plc, Automatic Data Processing Inc., Deloitte Touche Tohmatsu Limited, Hp Inc., Infosys Limited, International Business Machines Corporation, Intuit Inc., Paychex Inc., Wipro, Workday Inc., Xerox Corporation and Zalaris.

Key Questions Answered in This Report:

  • How has the global payroll outsourcing market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global payroll outsourcing market?
  • What are the key regional markets?
  • What is the breakup of the market based on the type?
  • What is the breakup of the market based on the application?
  • What is the breakup of the market based on the end use industry?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global payroll outsourcing market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology 

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Payroll Outsourcing Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Type
    6.1    Full-Managed Outsourcing
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Co-Managed Outsourcing
        6.2.1 Market Trends
        6.2.2 Market Forecast
7    Market Breakup by Application
    7.1    Small Business
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Medium Business
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Large Business
        7.3.1 Market Trends
        7.3.2 Market Forecast
8    Market Breakup by End Use Industry
    8.1    BFSI
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Consumer and Industrial Products
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    IT and Telecommunication
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Public Sector
        8.4.1 Market Trends
        8.4.2 Market Forecast
    8.5    Healthcare
        8.5.1 Market Trends
        8.5.2 Market Forecast
    8.6    Others
        8.6.1 Market Trends
        8.6.2 Market Forecast
9    Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis

    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape

    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    Accenture Plc
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio 
           14.3.1.3 Financials 
           14.3.1.4 SWOT Analysis
        14.3.2    Automatic Data Processing Inc.
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
           14.3.2.3 Financials 
           14.3.2.4 SWOT Analysis 
        14.3.3    Deloitte Touche Tohmatsu Limited
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio 
           14.3.3.4 SWOT Analysis
        14.3.4    Hp Inc.
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio 
           14.3.4.3 Financials 
           14.3.4.4 SWOT Analysis
        14.3.5    Infosys Limited
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio 
           14.3.5.3 Financials 
           14.3.5.4 SWOT Analysis
        14.3.6    International Business Machines Corporation
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio 
           14.3.6.3 Financials 
           14.3.6.4 SWOT Analysis
        14.3.7    Intuit Inc.
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
           14.3.7.3 Financials 
           14.3.7.4 SWOT Analysis
        14.3.8    Paychex Inc.
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio 
           14.3.8.3 Financials 
           14.3.8.4 SWOT Analysis
        14.3.9    Wipro
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
           14.3.9.3 Financials 
           14.3.9.4 SWOT Analysis
        14.3.10    Workday Inc.
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio 
           14.3.10.3 Financials 
           14.3.10.4 SWOT Analysis
        14.3.11    Xerox Corporation
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio 
           14.3.11.3 Financials 
           14.3.11.4 SWOT Analysis
        14.3.12    Zalaris
           14.3.12.1 Company Overview
           14.3.12.2 Product Portfolio
           14.3.12.3 Financials 


List of Figures

Figure 1: Global: Payroll Outsourcing Market: Major Drivers and Challenges
Figure 2: Global: Payroll Outsourcing Market: Sales Value (in Billion US$), 2014-2019
Figure 3: Global: Payroll Outsourcing Market: Breakup by Type (in %), 2019
Figure 4: Global: Payroll Outsourcing Market: Breakup by Application (in %), 2019
Figure 5: Global: Payroll Outsourcing Market: Breakup by End Use Industry (in %), 2019
Figure 6: Global: Payroll Outsourcing Market: Breakup by Region (in %), 2019
Figure 7: Global: Payroll Outsourcing Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 8: Global: Payroll Outsourcing (Full-Managed Outsourcing) Market: Sales Value (in Million US$), 2014 & 2019
Figure 9: Global: Payroll Outsourcing (Full-Managed Outsourcing) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 10: Global: Payroll Outsourcing (Co-Managed Outsourcing) Market: Sales Value (in Million US$), 2014 & 2019
Figure 11: Global: Payroll Outsourcing (Co-Managed Outsourcing) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 12: Global: Payroll Outsourcing (Small Business) Market: Sales Value (in Million US$), 2014 & 2019
Figure 13: Global: Payroll Outsourcing (Small Business) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 14: Global: Payroll Outsourcing (Medium Business) Market: Sales Value (in Million US$), 2014 & 2019
Figure 15: Global: Payroll Outsourcing (Medium Business) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 16: Global: Payroll Outsourcing (Large Business) Market: Sales Value (in Million US$), 2014 & 2019
Figure 17: Global: Payroll Outsourcing (Large Business) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 18: Global: Payroll Outsourcing (BFSI) Market: Sales Value (in Million US$), 2014 & 2019
Figure 19: Global: Payroll Outsourcing (BFSI) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 20: Global: Payroll Outsourcing (Consumer and Industrial Products) Market: Sales Value (in Million US$), 2014 & 2019
Figure 21: Global: Payroll Outsourcing (Consumer and Industrial Products) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 22: Global: Payroll Outsourcing (IT and Telecommunication) Market: Sales Value (in Million US$), 2014 & 2019
Figure 23: Global: Payroll Outsourcing (IT and Telecommunication) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 24: Global: Payroll Outsourcing (Professional Services) Market: Sales Value (in Million US$), 2014 & 2019
Figure 25: Global: Payroll Outsourcing (Professional Services) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 26: Global: Payroll Outsourcing (Public Sector) Market: Sales Value (in Million US$), 2014 & 2019
Figure 27: Global: Payroll Outsourcing (Public Sector) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 28: Global: Payroll Outsourcing (Other Industries) Market: Sales Value (in Million US$), 2014 & 2019
Figure 29: Global: Payroll Outsourcing (Other Industries) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 30: North America: Payroll Outsourcing Market: Sales Value (in Million US$), 2014 & 2019
Figure 31: North America: Payroll Outsourcing Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 32: United States: Payroll Outsourcing Market: Sales Value (in Million US$), 2014 & 2019
Figure 33: United States: Payroll Outsourcing Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 34: Canada: Payroll Outsourcing Market: Sales Value (in Million US$), 2014 & 2019
Figure 35: Canada: Payroll Outsourcing Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 36: Asia Pacific: Payroll Outsourcing Market: Sales Value (in Million US$), 2014 & 2019
Figure 37: Asia Pacific: Payroll Outsourcing Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 38: China: Payroll Outsourcing Market: Sales Value (in Million US$), 2014 & 2019
Figure 39: China: Payroll Outsourcing Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 40: Japan: Payroll Outsourcing Market: Sales Value (in Million US$), 2014 & 2019
Figure 41: Japan: Payroll Outsourcing Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 42: India: Payroll Outsourcing Market: Sales Value (in Million US$), 2014 & 2019
Figure 43: India: Payroll Outsourcing Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 44: South Korea: Payroll Outsourcing Market: Sales Value (in Million US$), 2014 & 2019
Figure 45: South Korea: Payroll Outsourcing Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 46: Australia: Payroll Outsourcing Market: Sales Value (in Million US$), 2014 & 2019
Figure 47: Australia: Payroll Outsourcing Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 48: Indonesia: Payroll Outsourcing Market: Sales Value (in Million US$), 2014 & 2019
Figure 49: Indonesia: Payroll Outsourcing Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 50: Others: Payroll Outsourcing Market: Sales Value (in Million US$), 2014 & 2019
Figure 51: Others: Payroll Outsourcing Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 52: Europe: Payroll Outsourcing Market: Sales Value (in Million US$), 2014 & 2019
Figure 53: Europe: Payroll Outsourcing Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 54: Germany: Payroll Outsourcing Market: Sales Value (in Million US$), 2014 & 2019
Figure 55: Germany: Payroll Outsourcing Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 56: France: Payroll Outsourcing Market: Sales Value (in Million US$), 2014 & 2019
Figure 57: France: Payroll Outsourcing Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 58: United Kingdom: Payroll Outsourcing Market: Sales Value (in Million US$), 2014 & 2019
Figure 59: United Kingdom: Payroll Outsourcing Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 60: Italy: Payroll Outsourcing Market: Sales Value (in Million US$), 2014 & 2019
Figure 61: Italy: Payroll Outsourcing Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 62: Spain: Payroll Outsourcing Market: Sales Value (in Million US$), 2014 & 2019
Figure 63: Spain: Payroll Outsourcing Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 64: Russia: Payroll Outsourcing Market: Sales Value (in Million US$), 2014 & 2019
Figure 65: Russia: Payroll Outsourcing Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 66: Others: Payroll Outsourcing Market: Sales Value (in Million US$), 2014 & 2019
Figure 67: Others: Payroll Outsourcing Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 68: Latin America: Payroll Outsourcing Market: Sales Value (in Million US$), 2014 & 2019
Figure 69: Latin America: Payroll Outsourcing Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 70: Brazil: Payroll Outsourcing Market: Sales Value (in Million US$), 2014 & 2019
Figure 71: Brazil: Payroll Outsourcing Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 72: Mexico: Payroll Outsourcing Market: Sales Value (in Million US$), 2014 & 2019
Figure 73: Mexico: Payroll Outsourcing Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 74: Others: Payroll Outsourcing Market: Sales Value (in Million US$), 2014 & 2019
Figure 75: Others: Payroll Outsourcing Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 76: Middle East and Africa: Payroll Outsourcing Market: Sales Value (in Million US$), 2014 & 2019
Figure 77: Middle East and Africa: Payroll Outsourcing Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 78: Global: Payroll Outsourcing Industry: SWOT Analysis
Figure 79: Global: Payroll Outsourcing Industry: Value Chain Analysis
Figure 80: Global: Payroll Outsourcing Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Payroll Outsourcing Market: Key Industry Highlights, 2019 and 2025
Table 2: Global: Payroll Outsourcing Market Forecast: Breakup by Type (in Million US$), 2020-2025
Table 3: Global: Payroll Outsourcing Market Forecast: Breakup by Application (in Million US$), 2020-2025
Table 4: Global: Payroll Outsourcing Market Forecast: Breakup by End Use Industry (in Million US$), 2020-2025
Table 5: Global: Payroll Outsourcing Market Forecast: Breakup by Region (in Million US$), 2020-2025
Table 6: Global: Payroll Outsourcing Market Structure
Table 7: Global: Payroll Outsourcing Market: Key Players

Note: We value your privacy and will never rent or sell your email address. Privacy policy

Purchase Options




$ 2299

REACH OUT TO US

Call us on

( US: +1-631-791-1145 )
( UK: +44-702-409-7331 )
( India: +91-120-433-0800 )


Drop us an email at

sales@imarcgroup.com

Social Links